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MEDIA RELEASE axiata Axiata and Telenor in Advanced Discussions to Merge Celcom and Digi Both to have equal shareholding at 33.1 % each Axiata and Malaysian investors will own over 51 percent KUALA LUMPUR , 8 April 2021 - Axiata Group Berhad ( " Axiata " ) and Telenor Asia ( " Telenor " ) ( together " Parties " ) are in advanced discussions on the merger of the telco operations of Celcom Axiata Berhad ( " Celcom " ) and Digi.com Berhad ( " Digi " ) ( " MergeCo " ) , in which the Parties will have equal ownership estimated at 33.1 percent each . Axiata together with Malaysian institutional funds will own over 51 % of the MergeCo . As part of the merger transaction , Axiata will receive newly issued shares in Digi representing 33.1 percent post - transaction shareholding and cash equalisation amount of around RM2 billion , of which RM1.7 billion to come from Digi as new debt , balance of RM300 million from Telenor . With the intent to create the leading Malaysian Telco , MergeCo will bring together Axiata and Telenor's Malaysian operations ' combined scale , competencies , finances and vast experiences to generate significant synergistic value for a commercially stronger and more resilient MergeCo , which will be better positioned to drive the country's transition into a high income digital society . In face of the global Covid - 19 pandemic accelerating the shift towards digitalisation , the Government's announcement of the MyDIGITAL blueprint sets the pathway for economic transformation that strategically positions the nation to be highly competitive in the new norm . Where connectivity is a critical digitalisation enabler , the telco industry will play an integral role in supporting the Government's decision to fast - track 5G services and deliver ubiquitous high quality broadband speed and services . This will bode well for customers as a move that would reap benefits for the economy and industry . As such , MergeCo will be uniquely positioned to take advantage of opportunities that come with technological advancements and the surge in the adoption of digital services while in parallel , manage the evolving challenges of a highly competitive and complex environment . MergeCo will be considered a leading telecommunications service provider in Malaysia in terms of value , revenue and profit , with proforma revenue of about RM12.4 billion , pre - synergy EBITDA of the combined entity at approximately RM5.7 billion , and an estimated 19 million customers . With national interests firmly in place , Axiata and key Malaysian institutional shareholders will own more than 51 percent of MergeCo . Axiata has the right to nominate the initial Chairman and Chief Executive Officer of MergeCo , and together with Telenor , have agreed to nominate the following individuals to the key positions : Chairman - Dato ' Izzaddin Idris Vice Chairman - Jørgen C. Arentz Rostrup 1